Post Utme Lasu 2021 Accounting Question 15

Practice objective / multiple choice question 15 from the 2021 Post Utme Lasu Accounting examination.

Post Utme Lasu 2021 Accounting Objective / Multiple Choice
Question 15 POST_UTME_LASU • 2021 • ACCOUNTING • objective

A company's trial balance showed an error of £ 500 in the credit side of the trading account. The correct balance of the trading account is £ 40,000. What is the correct balance of the profit and loss account?

Answer Options

A. £ 39,500
Correct Answer B. £ 40,000
C. £ 40,500
D. £ 41,000
Correct Answer
B
Correct Option:
£ 40,000

About This Question

This is Post Utme Lasu 2021 Accounting Question 15. It is one of the objective questions from the 2021 Post Utme Lasu Accounting examination.

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